Risk Management

Daily processing done differently.

Claims management is a pivotal part of the insurance program management. Operating out of our London office, our claims team handles in excess of 3,000 claims a year, using web-based technology to enable efficient management and settlement. On-line notification, document management tools, analysis, and management information tailored for individual clients are key features of our offering. The flexibility and systems capabilities that we employ allow us to create bespoke programs for clients with particular claims needs.

Taking control over claims.

At Artex, we manage and administer the claims process to provide clients with optimum outcomes and help them take control of their costs. This involves examining every reported claim to identify cost-reduction opportunities with the goal to garner faster, more effective claims resolutions. We also serve as an advocate for our clients to ensure a fair financial evaluation during settlements.

We apply our multi-line expertise to analyze the global impact of a claim across our client's entire business, and develop risk strategies focused on enterprise-wide risk reduction.

Our services

Claims administration assessment. Our staff will perform an in-depth audit to evaluate the efficacy of the client's current claims administration, identify any claim trends or anomalies. Based on our analysis, we will recommend ways to improve claims management outcomes. This is particularly helpful in assessing the collateral requirements or projecting potential dividend returns of loss-sensitive insurance programs.

Claims oversight services. We provide a hands-on approach for clients that partially or completely outsource their claims administration. This includes examining notices of injury triage, subrogation management, lag management programs, litigation oversight and management, return-to-work programs, identification of potentially large loss claims, management of PPO networks to improve penetration, adjuster oversight and much more.

Semi-annual file reviews: Our staff will review your third party administrator (TPA) cases, address action plans and recommend specific strategies to expedite the closure of a claim. We will coordinate with front-line adjusters to ensure all resources are properly directed.

Client training. We help empower clients by putting the knowledge they need into their hands through educational sessions. These sessions are designed to address specific client needs and may be conducted as workshops. Topics cover basic claims information, efficient claims reporting systems, managing first-care contacts, lag management, stay-at-work/return-to-work, managing a worksite PPO/MCO program, communicating light-duty assignments, accident investigation skills and others.

TPA selection and program implementation. The right fit between a client and a TPA is instrumental to a successful risk management program. The TPA is the gatekeeper to an insured's claim. A TPA that performs well leads to lower premiums, decreased expenses and reduced collateral. Our in-depth qualification process ensures the most appropriate match between clients and service providers. Our data management services allow for efficient program transfer and/or implementation.

Program renewal and support. Our proactive analysis of a client's risk exposures, claims trends and handling proficiencies enable us to provide clarity to the renewal process and help define ongoing directional strategy.

Who benefits from Artex Advocacy

• Group captives and alternative risk programs
• Run-off or expired business affecting collateral
• Insureds wanting to quantify ultimate claims reserves
• Insureds with retention, captive or loss-sensitive programs
• Program managers needing dedicated risk management resources
• Brokers and agents who don't have in-house claims specialists
• Insureds seeking to evaluate or change claims administration providers
• Insureds needing supplemental claims staff or lacking internal claims staff

View risk management through multiple lenses.

Risk management is all about value protection and creation. To avert losses and recover more efficiently when an event does occur, businesses need an advocate — a partner who can look at risk from all angles and assist in developing a coordinated plan for long-term success. Artex risk management advocacy puts the power of our expertise in the hands of captive clients to help mitigate losses through effective risk management strategies and loss prevention.

Our goal is to minimize claims costs and return underwriting profits to our clients by helping members improve their performance, which directly impacts each firm's bottom line and that of the captive itself. Our risk management advocacy group is committed to empowering members of the captive to incorporate as part of their company culture a strong mindset of risk management and safety.

Artex essentially becomes an outsourced extension to provide seamless risk management services. Our core services include:

• Risk control services oversight. Our staff oversees the captive's service providers, ensuring they are working appropriately with each client; reviews trends, losses, and action plans; and reviews and monitors each member's performance under our Special Attention Program (SAP).
• Risk control workshops and board meetings. We're at the forefront in facilitating risk management workshops and spearheading board meetings for captives where key issues are addressed and reviewed. Members and their risk management teams have an opportunity to brainstorm and become educated and equipped to achieve greater control over their success.
• Strategic planning committees. Each member's safety or risk manager in the captive is given a voice, coming together at quarterly meetings to address key issues that impact the captive's ability to attain its goals.

We also provide key supporting services, including communication vehicles such as surveys, websites and blogs for information sharing; claims consulting; large loss reviews; carrier audits and claims reviews.